At one time, Rod Wolford Sr. operated one of the largest land contract brokerages in the Midwest, handing millions of dollars worth of deals after learning about the business through cable TV infomercials and seminars.

Now, even his own son has turned against him.

Rod Wolford II testified against his father during an Iowa criminal trial that ended with the elder Wolford being convicted of 17 felonies and facing up to 165 years in jail. He will be sentenced April 21.

Fake Broker Steals EquityA California man is accused of posing as a mortgage broker to get at least one elderly couple to provide him enough information to steal equity from their home.

Johnnie Drew needed some money.

The plumbing had gone bad in the Stockton, Calif., home of the 72-year-old woman. With her husband in a wheelchair and unable to perform the work, Drew would have to hire a plumber to perform the work.

Fake Mortgage Lender Steals App FeesMontreal Expo Financial Services, a Canadian company that advertised its mortgage services in a Florida newspaper, promised fast approval, low rates and no fees -- but only took applicants money and provided no mortgages.read story from the Florida Times-Union .

Indictments Handed Out $2 Million Home Equity ScamRamzy and Kamal Moumneh have been accused by federal prosecutors of working with five other people to steal more than $2-million in home equity in an elaborate scheme promoted as a way to save borrowers in financial trouble.read story from the St. Petersburgh Times .

March 2, 2006

Another Plea in MCA Fraud CaseJohn O'Leary, a former finance executive at MCA Financial Corp., plead guilty to his role in the largest security-fraud case in Michigan's history.read story from Crains Detroit .

Appreciation From FraudRichard Hagar, a Seattle-area real estate appraiser, told a group of agents, appraisers and brokers that some of the recent home appreciation in the area may be the result of fraud.read story from The Bulletin .

Drugs & FraudRichard Lucas, who alerted authorities to his involvement in a fraud scheme because he didn't report to a drug treatment facility, said in court he was innocent of charges of illegal flipping.read story from NEWS 7 .

RE Insider Duped UnknowinglyWhen real estate developer Robert Shumake tried to sell a home he owned, he found his property had been stolen as a result of mortgage fraud.read story from Black Enterprise .